Duff and Phelps felt they were close to an agreement with Gers' players over cuts on Tuesday but they delivered a statement close to 10.30pm revealing that some players had not yet accepted certain contractual conditions despite agreeing to significant salary reductions.

It is understood about half a dozen players have yet to commit over specific issues such as potential summer transfers and the length of time wage cuts are in place.

Keeper Allan McGregor, who is among the highest earners at Ibrox, earlier denied that he had refused to accept wage cuts.

His solicitor Margaret Gribbon of Bridge Litigation said in a statement: "Contrary to some media reports Allan has not refused to accept a salary reduction.

"These allegations are false and Allan has instructed me to make clear if these allegations are reported as fact he will have no option but to resort to legal action.

"Allan along with many of his fellow players is committed to making personal salary sacrifices to ensure the club survives.

"Allan has and will continue to extend his full co-operation with the administrators at this very difficult and challenging time for the club."

January signing Mervan Celik and Scotland Under-21 midfielder Gregg Wylde are believed to have left the club in a bid to avert redundancies.

But the wage agreement, which would see top-earning players accept 75% cuts and lower-paid players losing 25-50% of their salaries, could limit the departures to two.